Search result for loan
CONSULTANTS TO CHECK FRAUD SURROUNDING COVID-19 RESCUE LOANS
HIGHLIGHTS
- The BBB wants to examine the recipients of its emergency loans amid the COVID-19 lockdown.
- Professionals from RSM and KPMG have been hired by the bank to investigate the loans and uncover cases of fraud.
- Some firms receivin...
LOAN GUARANTEE OF $1.2 BILLION GIVEN TO NISSAN MOTOR CO.
Highlights –
- Loan guarantee of $1.2 billion given to Nissan Motor Co.
- The Development Bank of Japan (DBJ) gave the loan guarantee as part of the COVID-19 relief fund.
- Nissan had reported a net loss of $631 million.
- DBJ had...
DELHI: Ola, Uber DRIVERS RAISE VARIOUS DEMANDS, THREATEN TO GO ON STRIKE FROM SEPTEMBER 1
Highlights
• According to Kamaljeet Singh Gill, president of Sarvodaya Drivers Association of Delhi, nearly 2 lakh drivers will participate in the strike
• The Central Government’s moratorium on EMI payment will end on August 31
• Delhi Metro tra...
WELLS FARGO & CO. TO RESUME LAYOFFS AS PART OF THEIR COST CUTTING INITIATIVE
Highlights –
- Wells Fargo & Co. to resume layoffs as part of their cost cutting initiative.
- The bank had initially paused its layoffs in March due to the pandemic.
- The bank also plans to close several of its branches.
- Th...
JAPANESE GOVERNMENT TO EXTEND A LOAN TO BANGLADESH FOR INFRASTRUCTURE PROJECTS
Highlights –
- Japanese government to extend a loan to Bangladesh for infrastructure projects.
- Japan will lend Bangladesh around $3.17 billion.
- Bangladesh will have to repay the loan at a 0.65 percent interest rate.
- This is ...
$345 MILLION AGREEMENT SIGNED BETWEEN JAPAN AND VIETNAM FOR SIX PATROL SHIPS
Highlights –
- $345 million agreement signed between Japan and Vietnam for six patrol ships.
- The agreement was signed to boost maritime law enforcement.
- The patrol ships will be new and be made in Japan.
- As the South China Se...
HDFC BANK NET PROFIT UP BY 19.6% IN Q1, PROVISIONS INCREASE BY 49%
Highlights
• HDFC Bank’s net interest income went up by 17.8% y-o-y to Rs 15,665.4 crore
• HDFC reported a net profit of Rs 6,659 crore for the first quarter of FY21
• As per the results, bank’s net interest margin remained unchanged ...
ANOTHER EXTENSION OF LOAN MORATORIUM ON THE CARDS?: CENTRE TO TAKE DECISION SOON
Highlights
• The loan moratorium was previously extended by the RBI on May 22 till the end of August
• The S&P expects gross NPAs of Indian banks to grow from 8.5 percent in FY20 to 14 percent in FY21
• RBI governor Shaktikanta Das also warned bank...
UK TRESEASURY PLANS TO SET UP CORONAVIRUS TOXIC DEBT BODY
HIGHLIGHTS
- To handle £ 35 Billion of unsustainable government-backed debt, Leicester City wants state-owned recovery corporation.
- Many businesses in Leicester have shuttered. A taskforce has suggested that British businesses that had taken...
SC TO CENTRE: ‘IF YOU ANNOUNCED LOAN MORATORIUM, YOU MUST ENSURE THE BENEFITS'
Highlights
• The Supreme Court clearly said that majority of borrowers have not availed the moratorium as they are aware of the fact that it won’t benefit them
• The Supreme Court directed the Centre and the RBI to review this issue as it won’t be left be...
SC TO RBI, CENTRE: DECIDE ON WAIVER OF INTEREST IN 3 DAYS
Highlights
• The Supreme Court directed the Centre to come up with a response on the waiver of interest
• The three-member bench led by Justice Sanjay Kishan Kaul said the only concern for the court is whether the banks are planning to charge interest on interest or ...
SC TO RBI: ‘ECONOMICS IS NOT HIGHER THAN PEOPLE’S HEALTH'
Highlights
• Reserve Bank of India has extended the loan moratorium till August 31
• In its affidavit, the RBI said the interest waiver will bring in losses worth Rs 2 lakh crores for the banks
• The next date of hearing in this issue is June 12
...RESERVE BANK OF INDIA EXTENDS LOAN MORATORIUM TILL AUGUST 31
Highlights
• The repo rate has been slashed by 40 basis points (bps) to 4 percent
• The decision to reduce repo rate and reverse repo rate was taken after five members of the Monetary Policy Committee (MPC) voted in its favour said Governor Shaktikanta Das
...
CREDIT LOANS EXTENDED BY SOUTH KOREAN COMMERCIAL BANKS
Highlights –
- South Korean commercial banks give out credit loans
- Tight mortgage regulations by the government leading Korean citizens to take loans
- Personal credit debt in Korea in a rare jump in February
Due to the...
Essar loan specialists get ?38,896 cr from Arcelor
The ArcelorMittal-Nippon Steel consolidate has moved ?38,896 crores to loan specialists for the procurement of the once-Ruias-possessed Essar Steel in an indebtedness driven procedure. For the loan specialists, recuperation comes more than two years after they started a corporate indebtedness goa...
US banks' hesitance to loan money may have caused repo stun
[LONDON] The reluctance of the main four US banks to loan money joined with an explosion of interest from flexible investments for verified financing could clarify an ongoing spike in US currency showcase rates, the Bank for International Settlements said. Money accessible to banks for momentary ...
Academic Assistance Program Awarded $24,000
Louisiana's First National Bank and Dallas ' Federal Home Loan Bank awarded $24,000 to Encouraging the Community for Excellence in Crowley, Louisiana.
The Partnership Grant Program (PGP) grants will help to pay for computer equipment, educational materials, and two hi...
Bank holding companies see a change in norms
As the banking sector of the United States suffers from unpaid loans and their premiums we are now seeing a major change in the norms of the bank holding companies as the Federal reserve has penned down new rules citing the concerns of the banking sector and to help stop the slowdown in various s...